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Government reduces stake in Lloyds

The UK government's stake in Lloyds Banking Group falls to below 17%, as more shares are sold to private investors.

State-backed Lloyds Banking Group is fined a record 117m for mis-handling payment protection insurance (PPI) complaints by the City watchdog.

The government extends its plan to sell off shares in Lloyds Banking Group to the end of the year.

The government sells another tranche of shares in taxpayer-backed Lloyds Banking Group, reducing its stake in the bank to below 20%.

Shares in Lloyds Banking Group jump 3% after investors welcome its first-quarter results, but the FTSE 100 slides in early trade.

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